One of the key outcomes of the fundamental managerial function of planning is strategy formulation. Planning identifies the organisational goals and paves the way for selecting an appropriate strategy, which is essential for success. Strategy exists at the corporate, business and functional levels and all three levels must coordinate in a coherent way to be able to meet the organisational goals. The chosen strategy must then be supported by an appropriate organisational structure to be effectively implemented. Several planning tools are available to managers to achieve this, in particular SWOT analysis and Porter’s Five Forces model. ANZ has been operating domestically since 1835, and has operated in the Asia-Pacific region for more than 30 years. In 2007 ANZ laid out a new super regional strategy that involved a focus on expanding operations into the Asia Pacific, European and American (APEA) markets, a move they believe will deliver growth for shareholders that wouldn’t be possible while pursuing a purely domestic strategy (ANZ Annual Report 2011). ANZ is still actively pursuing this strategy and has recently announced changes to its structure to support the strategy.
Having such a long history that lead to the ANZ becoming one of the largest banks in Australia-NZ and the Asia Pacific region today clearly involved planning, correct selection of strategy by using tools such as SWOT and Porter’s Five Forces model, and adjusting its structure to suit the strategy being deployed. SWOT Analysis
SWOT analysis involves examining internal organisational strengths and weaknesses as well as external opportunities and threats. This allows managers to make decisions about the strategies to pursue at corporate, business and functional levels. A key strength of ANZ would be its strong financial position as one of the leading banks in Australia. Coupled with its direct knowledge of Asian markets through its historical and growing presence in the region, this allows ANZ to...
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